New South Wales Consolidated Acts New South Wales Consolidated Acts(cf State Owned Corporations Act 1989 , section 20N)
(1) If the voting shareholders wish the Corporation to perform activities, or to cease to perform activities, or not to perform activities, in circumstances where the Board considers that it is not in the commercial interests of the Corporation to do so, they may, by written notice to the Board, direct the Corporation to do so in accordance with any requirements set out or referred to in the notice.
(2) The Corporation is required to comply with any such direction.
(3) The Corporation is entitled to be reimbursed, from money advanced by the constituent councils for the purpose, amounts equal to:(a) the net cost of performing any such activities, including the cost of capital, and(b) the net cost of complying with a direction to cease to perform or not to perform any such activities.
(4) The amounts and times of payment of those amounts are as agreed between the constituent councils and the Corporation or (failing agreement) as determined by a suitably qualified person or persons nominated by the Minister.
(5) The Corporation may be reimbursed, from money advanced by the constituent councils for the purpose, amounts not exceeding the estimated net amount of revenue forgone through ceasing to perform or not performing any such activities, as determined by the constituent councils having regard to such factors as they consider relevant in the circumstances.